Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1552 W Vernon Avenue Phoenix, AZ 85007

2 Beds 2 Baths 1,695 sqft Built 1936

$537,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1936
  • Price/Sqft : $316.81
  • 2 Days on Market
  • MLS # : 6179427
  • Updated Date : 01/23/2021 at 16:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,695 sqft
  • Baths : 2 full
Listing Agent

Brokers Hub Realty, Llc

Listing Agent's Description

Incredible opportunity to own a historic ''one of a kind'' Spanish Adobe construction in the Del Norte Place Historic District-in ''The Heart of the Park''. Rich in history, this 1936 home holds all of the character you would want . Original tiled bathrooms set in classic 30's-40's design, original Saltillo tile floors throughout, Original casement windows, rare use Solid Adobe construction & mission tile roof. 2 BDR / 2 Bath, rare 2 Car Garage, Formal Dining, Large family room w/ FP. Master bedroom has attached master bathroom with separate shower and original tub. Spanish Colonial Revival touches all throughout. Arched Arcades, spanish tile surrounds & wood insets. Remodeled Kitchen captures the essence of it's time while giving all of the comforts of modern innovation..

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Del Norte Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k414k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Del Norte Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Heard School Primary Regular 661 33 2
Heard School Middle Regular 661 33 2
Central High School High Regular 2,251 136 3

Heard School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Heard School

  • Education Level: Middle
  • # of students: 661
  • # of teachers: 33
2
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$483,300$590,700$537,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,865
Property Tax -$287
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$321

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$537,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,055

INVESTMENT

$148,055

Down Payment
$134,250
Rehab Estimate
$5,750
Closing Costs
$8,055

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,250
Loan Amount $402,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,577

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,127

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$1,850
$1,850
RENT COMPS ANALYSIS
  • 1552 W Vernon Avenue Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,695 Sqft ∙ Built 1936 2 beds 2 baths ∙ 1,695 Sqft ∙ Built 1936
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 510 W Lewis Avenue Phoenix, AZ 2
    • 2 beds 1 baths ∙ 1,413 Sqft ∙ Built 1935 2 beds 1 baths ∙ 1,413 Sqft ∙ Built 1935
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.27
    •  
  • 2534 N 9th Street #1 Phoenix, AZ 3
    • 2 beds 1 baths ∙ 1,490 Sqft ∙ Built 1940 2 beds 1 baths ∙ 1,490 Sqft ∙ Built 1940
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.24
    •  
PROPERTY LISTING DETAILS
Destyn Moreno
Brokers Hub Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179427
Last Updated: 01/23/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy